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More Than 90 Banks Miss TARP Payments !! Double dip coming!

Anonymous Coward
User ID: 1005789
06/17/2010 03:38 PM
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More Than 90 Banks Miss TARP Payments !! Double dip coming!
[link to www.cnbc.com]

More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.

The statistics, compiled by SNL Financial from U.S. Treasury data, showed 91 banks and thrifts skipped the May dividend payment under the Troubled Asset Relief Program, or TARP. It was the first missed payment for 23 of the banks; for the others, it was at least their second miss.

The number of banks missing their TARP payments rose for the third straight quarter. In February, 74 banks deferred their payments; 55 deferred last November.

SNL Financialís analysis found 20 banks have missed four or more payments since the program began in 2008, while eight banks have missed five payments.